Business Bermuda’s Chief Executive Officer, Cheryl Packwood said: “Offshore jurisdictions like Bermuda have had a role to play in the development of the Islamic finance industry so far and we can do more to contribute to this natural expansion. The discussion should not be about the offerings of each country as competitors, but rather what we can do together with the international Islamic finance community to expand the industry, grow capital and benefit from its growth.
“Islamic finance is not just for Muslims. The principles behind it – transparency, ethical investment, fair dealing and risk and reward-sharing can appeal to a number of investors. The manner in which companies approach Islamic Finance must evolve to embrace this wider audience. This is about both sides participating in the risk and the profit. It is an alternative way and also potentially a very good way to do business and grow economies. ”.............................................Full Article: Source